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China's industrial internet industry to reach 438 bln USD in 2020: report

(Xinhua)    10:58, March 26, 2020

SHANGHAI, March 25 (Xinhua) -- The added value of China's industrial internet industry is forecast to reach 3.1 trillion yuan (about 438 billion U.S. dollars) in 2020, up 47.9 percent from last year, according to a recent report.

Among them, 652 billion yuan will be created by the development of the core sectors of the industrial internet industry and 2.49 trillion yuan will be driven by the integration of the industrial internet with other industries, according to the report released Tuesday by the China Academy of Information and Communications Technology.

The industrial internet industry is estimated to account for 2.9 percent of China's GDP this year, and will contribute to more than 11 percent of the GDP growth, the report said.

The industry is expected to create more than 2.55 million new jobs in 2020, said the report.

The added value of China's industrial internet was 1.42 trillion yuan and 2.13 trillion yuan in 2018 and 2019, respectively.

Industrial internet will become one of the most active areas in the national economy, said the report.

China will beef up the development of "new infrastructure," including 5G base stations, vehicle charging stations, big data centers, artificial intelligence and industrial internet, to offset the economic impact of the novel coronavirus outbreak and cultivate new growth drivers.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: He Zhuoyan, Liang Jun)

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